INVESTOR PRESENTATION | MAY 2022- The Global Health and Wellness Company
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– The Global Health and Wellness Company – INVESTOR PRESENTATION | MAY 2022
Forward-Looking Statements
This Investor Presentation includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended,
Section 21E of the Securities Exchange Act of 1934, as amended and the “safe harbor” provisions of the Private Securities Litigation Reform Act
of 1995. The expectations, estimates, and projections of the Company may differ from its actual results and consequently, you should not rely
on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,”
“anticipate,” “intend,” “plan,” “may,” “might,” “project,” “possible,” “would,” “will,” “could,” “should,” “believe,” “predict,” “potential,”
“continue,” or the negative or other variations thereof and similar expressions are intended to identify such forward-looking statements. These
DISCLOSURE & forward-looking statements include, without limitation, expectations with respect to future performance of the Company, including projected
financial information (which is not audited or reviewed by the Company’s auditors), and the future plans, operations and opportunities for the
FORWARD LOOKING Company and other statements that are not historical facts. These statements are based on the current expectations and beliefs of the
Company’s management concerning future developments and their potential effects on us taking into account information currently available to
STATEMENTS us and are not predictions of actual performance. There can be no assurances that future developments affecting us will be those that we have
anticipated. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially
from the expected results. Factors that may cause such differences include, but are not limited to: the demand for the Company’s services
together with the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors or changes in
the business environment in which the Company operates; changes in consumer preferences or the market for the Company’s services; changes
in applicable laws or regulations; the availability of competition for opportunities for expansion of the Company’s business; difficulties of
managing growth profitably; the loss of one or more members of the Company’s management team; and other risks and uncertainties described
or incorporated by reference in the Registration Statement and the Company’s reports (including all amendments to those reports) filed from
time to time with the SEC, including the Company’s most recent Annual Report on Form 10-KA for the year ended December 31, 2020 and the
Company’s most recent Quarterly Report on Form 10-Q for the quarter ended September 30, 2021.. The Company cautions that the foregoing
list of factors is not exclusive. You should not place undue reliance upon any forward-looking statements, which speak only as of the date made.
Should one or more of these risks or uncertainties materialize, they could cause our actual results to differ materially from the forward-looking
statements. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any
forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such
statement is based or otherwise, except as required by law. These forward-looking statements should not be relied upon as representing the
Company’s assessments as of any date subsequent to the date of this communication.
PRIVILEGED, PROPRIETY AND CONFIDENTIAL 2
Use of Projections
This Investor Presentation contains financial forecasts, including with respect to estimated revenues, net income, Adjusted Net Income, EBITDA,
Adjusted EBITDA, Adjusted EBITDA Margin, Unlevered After-Tax Free Cash Flow, Levered After-Tax Free Cash Flow and Unlevered After-Tax Free
Cash Flow Conversion. OSW’s independent auditors did not audit, review, compile, or perform any procedures with respect to the projections
for the purpose of their inclusion in this Investor Presentation, and accordingly, did not express an opinion or provide any other form of
assurance with respect thereto for the purpose of this Investor Presentation. These projections should not be relied upon as being necessarily
indicative of future results. In this Investor Presentation, certain of the above-mentioned estimated information has been repeated (subject to
the qualifications presented herein), for purposes of providing comparisons with historical data. The assumptions and estimates underlying the
DISCLOSURE, prospective financial information are inherently uncertain and are subject to a wide variety of significant business, economic and competitive
risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information.
CONTINUED Accordingly, there can be no assurance that the prospective results are indicative of the future performance of OSW or that actual results will
not differ materially from those presented in the prospective financial information. Inclusion of the prospective financial information in this
Investor Presentation should not be regarded as a representation by any person that the results contained in the prospective financial
information will be achieved.
Use of Non-GAAP Financial Measures
In addition to financial information prepared in accordance with generally accepted accounting principles in the United States (“GAAP”), this
Investor Presentation includes certain non-GAAP financial measures, such as EBITDA, Adjusted EBITDA, Adjusted Net Income, Unlevered After-
Tax Free Cash Flow, Levered After-Tax Free Cash Flow and Unlevered After-Tax Free Cash Flow Conversion, which may not be directly
comparable to similarly titled measures of other companies. OSW believes that the presentation of non-GAAP measures provides information
that is useful to investors as it indicates more clearly the ability of OSW to meet capital expenditure and working capital requirements and
provides an additional tool for investors to use in evaluating ongoing operating results and trends. These non-GAAP financial measures are in
addition to, and not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP. There are certain
limitations related to the use of these non-GAAP financial measures versus their nearest GAAP equivalents. For example, other companies may
calculate non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the
usefulness of our non-GAAP financial measures as tools for comparisons with other companies. Please see our most recent Form 10-K/A for the
year ended December 31, 2020 for further details on how we define these non-GAAP financial measures.
Industry and Market Data
In this Investor Presentation, OSW relies on and refers to information and statistics regarding market shares in the sectors in which it competes
and other industry data. OSW obtained this information and statistics from third-party sources believed to be reliable, including reports by
market research firms. OSW has supplemented this information where necessary with information from discussions with its customers and its
own internal estimates, taking into account publicly available information about other industry participants and its management’s best view as
to information that is not publicly available. OSW has not independently verified the accuracy or completeness of any such third-party
information.
PRIVILEGED, PROPRIETY AND CONFIDENTIAL 3
• 90+% outsourced spa market share on cruise ships
INDUSTRY
• Nearly 20x larger than nearest maritime competitor
LEADER
• ~20M annual captive audience
• 20+ consecutive years of global passenger growth
MEGA
KEY INVESTMENT • Strong population and demographic trends
TRENDS
• Emphasis on health, wellness and luxury lifestyles
HIGHLIGHTS
• Robust infrastructure and global network
COMPLEX
• Not easily replicated
MODEL
• Staggered contracts with cruise line partners
• Cruise capacity and occupancy is highly visible
PREDICTABLE
• Published global booking data
GROWTH
• Multi-year contracts include new ships during term
• Well-positioned in rapidly expanding Asian market
ASIA
• Young and burgeoning middle class
EXPANSION
• Cruising an increasing popular lifestyle trend
• ~90% after-tax free cash flow to Adj. EBITDA1 conversion
FCF &
• Asset light with minimal capex
ASSET LIGHT
• Cruise lines fund spa build-out and maintenance
1. Please see our most recent Form 10-K/A for the year ended December 31, 2020 for further details on how we define Adjusted EBITDA.
PRIVILEGED, PROPRIETY AND CONFIDENTIAL 4
FIRST QUARTER 2022 ACCOMPLISHMENTS
Net Revenues of $87.7
Ended the period with Welcomed back
SAILING HAS RETURNED million up significantly Delivered fifth health and wellness 2,369 cruise ship
from Q1 2021 and consecutive quarter of centers on 170 ships, of personnel on vessels
& ONESPAWORLD IS increased from Q4 2022 sequential revenue which 127 had resumed at quarter end for
despite disruption from growth
READY Omicron variant early in
voyages and introduced actual and
five new builds anticipated voyages
period
“The first quarter saw
Expects all contracted Ended first quarter with
continued growth across key 51 destination resort
ships to return to service Cash Burn Rate of $1.9
operating metrics including: by the end of Q3 spas of which 48 were
million was better than Ends First Quarter
Expansion in 2022 open and operating
pre-booking percent of service guidance for cash burn with Total Liquidity of
includes 12 new ship Expects to have 52
rate between $2.0 - $44 Million
revenue; average guest spend; builds inclusive of five destination resort spas
$3.0 million
that opened in Q1 open and operating at
average service spend per year end
guest; and service frequency
per guests, all of which Many large cruise lines are CDC announced retirement Vessels with 98% of crew and Per our 2021 survey, 93% of
achieved growth above the reporting 2022 bookings and of its Conditional Sale Order 95% of passengers vaccinated OSW staff to plan return to
pricing ahead of record 2019 in January 2022 have fewer requirements work with 97% being
2019 first quarter– the most
levels vaccinated
recent period of normal
operations.”
“We expect the continued Onboard Initiatives Focus on Improving Guest Spend and Utilization
increased scaling of our cruise • Solution Sales training to drive higher retail conversion
ship operations to generate
positive quarterly cash flow
• Cross promotion and rebooking to improve utilization
from operations beginning in • Skin Lab technology to promote BIOTEC facials
the second quarter of fiscal
• Facial Add-on Menu to increase spend without adding to treatment time
2022 and continuing quarterly
thereafter and for the full fiscal • Spring Break and Teen Menu targets families and teen audience during vacation periods
year.”
PRIVILEGED, PROPRIETY AND CONFIDENTIAL 5
FISCAL YEAR 2021 ACCOMPLISHMENTS
Key operating metrics Highest ever Pre-bookings and
Record demand by on- average guest spend
SAILING HAS RETURNED compared favorably in penetration rate of
board guests for OSW handily exceeded 2019
the fourth quarter to overall cruise ship
services
& ONESPAWORLD IS 2019 guests serviced levels
READY
48 of 52 destination
London Wellness
While navigating the Academy reopened in
118 of 170 partner ships, resort spas open at year Total liquidity of $46M
returned to service at end 2021 and at year end 2021
pandemic and maintaining a Q3 2021
year end 2021; experiencing record
Welcomed back 2,200
strong cash and liquidity cruise ship personnel
demand
position, the flawless
execution of our return to
sailing fueled positive
adjusted EBITDA in the Q4
Safety & Technology
2021,and growth across all
• Safety and guest experience is of utmost importance
key operating metrics as
compared to Q4 2019, the • Investments in technology, training, and digital content /
engagement for new service requirements
most recent comparable
period of normal operations
Collaboration & Engagement
• Engage cruise lines on initiatives to drive onboard revenue
• Accelerate pre-bookings, average spend and digital engagement
PRIVILEGED, PROPRIETY AND CONFIDENTIAL 6UNDISPUTED LEADER IN A HIGHLY ATTRACTIVE INDUSTRY
GLOBAL MEGA TRENDS DRIVING ROBUST SECTOR GROWTH
COMPLEX BUSINESS MODEL NOT EASILY REPLICATED
ONESPAWORLD, THE
HIGHLY VISIBLE, UNIQUELY PREDICTABLE GROWTH
PREEMINENT
GLOBAL HEALTH & EARLY INNINGS OF GROWTH IN ASIA
WELLNESS SERVICES
COMPANY E X C E P T I O N A L AFTER-TAX FREE CASH FLOW CO N V E R S I O N
170 > 90%
FINANCIAL HIGHLIGHTS
SHIPS M A R K E T S H A R E A T S E A1
51
RE S O R TS
~20x ~90%
NEXT LARGEST SEA COMPETITOR UNLEVERED AFTER-TAX FREE CASH FLOW CONVERSION 2
Note: Ship count and resort count as of Marchr 31, 2021.
1. Outsourced health and wellness market, as of 2020 forecast.
2. Unlevered After-Tax Free Cash Flow Conversion reflects 2019 and 2018 performance, prior to the impact of COVID-19 and is calculated as Adjusted EBITDA less Capital Expenditures and Provision for Income
Taxes, divided by Adjusted EBITDA.
PRIVILEGED, PROPRIETY AND CONFIDENTIAL 7GLOBAL CRUISE SHIP PASSENGERS (M)
Recession Recession
29.7
28.5
MORE THAN 20 26.7
CONSECUTIVE YEARS 25.2
OF GLOBAL PASSENGER 23.1
22.3
GROWTH 21.3
20.9
20.5
19.1
17.8
17.2
The global cruise industry 16.6
15.9
has proven resilient 14.8
13.9
through recessions with
12.6
passenger counts
11.5
growing consistently for
9.9
9.6
more than 20 years, until
8.4
March 2020, with the 7.8
7.1
Covid-19 pandemic 6.3 6.6
having an unprecedented
impact on the industry
2011
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2012
2013
2014
2015
2016
2017
2018
2019P
2019
Sources: CLIA, Cruise Industry News, Management.
Note: CLIA changed methodology for calculating passenger volume as of 2009, therefore consistent data for non-CLIA member cruise lines is unavailable prior to 2009. All passenger figures prior to 2009 are
extrapolated by indexing CLIA-reported statistics to 2009 total of 17.8M.
PRIVILEGED, PROPRIETY AND CONFIDENTIAL 8MULTIPLE MEGA TRENDS
DRIVE POSITIVE ROBUST CAPACITY GROWTH IN CRUISING ACROSS GEOGRAPHIES
OUTLOOK
Global Cruise Capacity Growth: 2020 – 2027
GLOBAL TRENDS TO
AGING GLOBAL
DRIVE SECTOR POPULATIONS
GROWTH 38.7M
+
Multiple long-term mega PERSISTENT HEALTH & 29.5M
trends underlie a WELLNESS TRENDS
compelling outlook
Growth and expansion of
+
onboard health and MILLENNIALS AROUND THE
wellness centers WORLD SEEKING LUXURY
EXPERIENCES
+
LONG-TERM EXPANSION IN
ASIA
2020 2027
Sources: Cruise Industry News.
PRIVILEGED, PROPRIETY AND CONFIDENTIAL 9Outsourced Spa Cruise Market Share
Other
90%
UNDISPUTED GLOBAL LEADER FOR MORE THAN 50 YEARS
~20x GREATER THAN NEAREST MARITIME COMPETITOR
CONTRACTS WITH ALMOST EVERY MAJOR CRUISE LINE
ABILITY TO REACH A CAPTIVE MASS AND LUXURY AUDIENCE GLOBALLY
GLOBAL PARTNER TO THE MOST PRESTIGIOUS WELLNESS BRANDS
Note: Market Share by Daily Passenger Capacity as of 01/08/20.
Based on addressable market of outsourced health and wellness providers. Source: Cruise Industry News 2017-2018 Annual Report.
Assumes Celebrity Full Year
PRIVILEGED, PROPRIETY AND CONFIDENTIAL 10UNMATCHED
SERVICE AND PRODUCT
Broad Offering of Cruise Passengers an
BREADTH ONBOARD
Leading Brands Attractive Demographic
* *
COMPREHENSIVE SPA & BEAUTY SERVICES
SERVICES $114,000
AND CURATED BRANDS MEDI-SPA AVERAGE INCOME
SOLD TO AN
*
FITNESS
ATTRACTIVE CAPTIVE
AUDIENCE
49 84%
HEALTH YEARS OLD MARRIED
NUTRITION
MIND-BODY
* *
TM
69% 2.3
COLLEGE CRUISES EVERY
* *
EDUCATED 3 YEARS
SPIRITUAL
~20M Annual Captive Audience
REVENUE
MIX 1 ~80% ~20%
Services Retail ~$238 Average Guest Spend
Sources: CLIA, Cruise Industry News.
Note: Asterisk indicates brand is exclusive to OneSpaWorld at sea. OSW has exclusive distribution rights to Thermage onboard vessels from non-Chinese cruise lines.
1. For fiscal year 2021.
PRIVILEGED, PROPRIETY AND CONFIDENTIAL 11We Operate on All Global Long-Term C-Level Relationships Across
Routes and Ship Classes 1 our Entire Fleet 3
Cruise Line
Other Asia Relationship Total Ships OSW Ships
Banner
Australia
28 Years 25 25
LONG-TERM
AGREEMENTS WITH Europe
NORTH
28 Years 24 24
EUROPE North America
THE LARGEST AMERICA
22 Years 17 17
AND MOST REPUTABLE
CRUISE LINES Revenue by Geography 2
19 Years 14 14
21 Years 11 11
20 Years 11 11
OneSpaWorld has extended
Luxury Budget
its contract with Azamara
21 Years 11 11
through early 2026 covering
all of Azamara’s ships sailing 24 Years 8 8
Premium
during the term of the
agreement 17 Years 6 6
CONTEMPORARY
Contemporary 20 Years 6 6
Ships by Class
20+ ~94% 5
YEARS AVERAGE CRUISE HISTORICAL CONTRACT YEAR AVERAGE
LINE RELATIONSHIP RENEWAL RATE CONTRACT LIFE
HISTORY
Source: Cruise Industry News.
1. Represents 2019. The Company believes, due to the impact of COVID-19 on our operations in 2020, current year data is not meaningful. As such, financial data is as of fiscal year 2019.
2. Revenue at sea only.
PRIVILEGED, PROPRIETY AND CONFIDENTIAL 12
3. As of 12/31/2021.Onboard Health & Wellness Products and Services
ONESPAWORLD CRUISE LINES
REVENUE SHARING
CONTRACTS OFFER RESPONSIBILITY RESPONSIBILITY
COMPELLING VALUE
Recruit, train and manage worldwide
FOR ONESPAWORLD & Fund multi-million dollar buildout
onboard staff
CRUISE LINES
Offer comprehensive and innovative Dependably fill ships with
services captive audience
Curate exclusive selection of health
Revenue sharing aligns Market our onboard services
and wellness products
incentives and affirms
cruise lines as our
economic partners, not
BENEFITS BENEFITS
fixed-rent landlords
Asset light Maximized revenue yield
Access to large captive audience No operating expense
Exclusive provider Superior guest experience
PRIVILEGED, PROPRIETY AND CONFIDENTIAL 13Global Passenger Routes
GLOBAL CRUISE
OPERATIONS ARE
HIGHLY COMPLEX
In 2019, OneSpaWorld…
VISITED EMBARKED ON REQUIRED
1,221 7,951 5,614
GLOBAL PORTS OF CALL VOYAGES STAFF TO FILL OPEN POSITIONS
MADE PLACED SENT STAFF ON MORE THAN
3,047 18,988 8,271
MANGEMENT VISITS TO SHIPS IN PURCHASE ORDERS TO VENDORS FLIGHTS GLOBALLY
PORT
Source: MarineTraffic.com.
PRIVILEGED, PROPRIETY AND CONFIDENTIAL 14End-to-End Logistics Capabilities
BACK-END PLATFORM & FRONT-END PLATFORM & KNOW-
KNOW-HOW HOW
ONESPAWORLD HAS
THE ONLY PLATFORM Global recruiting, training and Yield and revenue
human logistics management
WITH PROCESSES AND
Exceptional pre through
INFRASTRUCTURE Product supply chain facility
post-cruise experience
NECESSARY
Exclusive relationships with leading
TO MANAGE THE Design expertise
global brands
COMPLEXITY OF Timely trend identification and
SERVING THE GLOBAL Global maritime law compliance innovation of health & wellness
products and services
CRUISE MARKET
Our sophisticated and
comprehensive end-to-
end platform difficult to
replicate at scale
PRIVILEGED, PROPRIETY AND CONFIDENTIAL 15Introduction of High-Value Services Drives Revenue Growth Across
Existing Footprint
SERVICE & PRODUCT
OneSpaWorld Medi-Spa Rollout: Vessel
INNOVATION
Count by Year
ACUPUNCTURE 1ST VESSEL
EXCLUSIVE & HIGHLY
ATTRACTIVE GLOBAL 2005 94 99
CHANNEL FOR HIGH 86 86
75
66
MARGIN SPA SERVICES FLEET ROLLOUT 55
62
47
34
110 VESSELS BY 22
10
2010 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Average Spend Up To 10x-plus Traditional Services
CATEGORY CREATION:
PAIN MANAGEMENT SERVICE BRANDS AVG. SPEND
Cryolipolysis ~$2,500
126 VESSELS BY
2019 Injectables
Skin Tightening
~$500
~$2,800
ANNUAL REVENUE
Fillers ~$1,200
~$50M Bamboo Massage ~$160
• Acupuncture
• Electro Acupuncture Acupuncture ~$150
• Cupping
• Posture & Gait Analysis
• Good Feet Arch Supports
• Physical Therapy
• NormaTec Recovery
PRIVILEGED, PROPRIETY AND CONFIDENTIAL 16Onboard Spend as a % of Cruise
Operator Revenue 1 Historical Collaboration
Health & Wellness Center Branding &
SIDE ENGAGEMENT
29.8%
ISOLATED SHORE-
Design
CRUISE LINES ARE
INCREASINGLY ALIGNED Signage & Limited Marketing
WITH US TO DRIVE 24.2%
ONBOARD REVENUE
New Areas of Collaboration
2011 2019 Weekly Budgeting
& KPI Review
AND ONBOARD COLLABORATION
Cruise lines focus more
and more on onboard Targeted Marketing &
>$2 Billion Incremental Spend
UNIFIED SHORE-SIDE
spend and increasingly Passenger Databases
collaborate with
OneSpaWorld to grow Enhanced Website Visibility & Design
revenue
Dynamic Pricing and
Price Increases
Operational Sail Support (Onboard
Training)
Source: SEC Filings, Independent Consultant Studies, Wall Street Research
1. Based on three largest cruise operators.
PRIVILEGED, PROPRIETY AND CONFIDENTIAL 17Historical Revenue Historical PF Adj. EBITDA 1
($M, FYE Dec.) ($M, FYE Dec.)
$562
$541
$507 $59
$476 $56
$453 $53
STRONG, $49
$45
VISIBLE AND
CONSISTENT REVENUE
& ADJUSTED EBITDA
GROWTH WITH
EXCEPTIONAL
2015 2016 2017 2018 2019 2015 2016 2017 2018 2019
FREE CASH FLOW
CONVERSION Ship
Count
152 156 157 163 170
EBITDA
Margin
10.0% 10.3% 10.5% 10.3% 10.5%
Exceptional Unlevered After-Tax Free Cash Flow Conversion²
($M, FYE Dec.)
$59M ~90% ~1% ~2%
2019 FREE CASH FLOW CON AVG . C A P E X A S HISTORICAL CASH
ADJ. EBITDA VERSION3 % OF REVENUE TAX RATE
1. 2015A-18A EBITDA adjusted for public company costs of $2.9mm.
2. Unlevered After-Tax Free Cash Flow calculated as (Adjusted EBITDA – Avg. of 2015-20 Capex – Cash Taxes).
3. Unlevered After-Tax Free Cash Flow Conversion calculated as (Adjusted EBITDA less Avg. of 2015-20 Capex less Cash Taxes) / Adjusted EBITDA.
PRIVILEGED, PROPRIETY AND CONFIDENTIAL 18Exceptional Unlevered After-Tax Free Cash Flow Conversion Before
Covid-19 1
MINIMAL NEW HEALTH & WELLNESS CENTER CAPEX
Cruise lines fund nearly all maritime health and wellness center buildout costs
ASSET LIGHT MODEL
ASSET LIGHT BUSINESS OneSpaWorld does not own any of its maritime health and wellness centers – all major maintenance
requirements funded by cruise lines
MODEL & SUPERIOR
LEVEL OF AFTER-TAX EFFECTIVE TAX RATE: ~2%
Significant majority of income earned in international waters
FREE CASH FLOW
72%
63% 62% 62%
51%
9%
OneSpaWorld Highly Franchised Health & Asset-Light Best In-Class Asset-Heavy Cruise
Restaurants Wellness Leisure Service Leisure
CAPEX AS %
OF REVENUE 1% 3% 5% 6% 3% 14% 28%
EFFECTIVE TAX 2% 21% 21% 21% 21% 21% 2%
RATE
Source: SEC filings, Wall Street research.
Note: Highly Franchised Restaurants includes YUM, QSR, DNKN, DPZ and PZZA. Health & Wellness includes WTW, LULU, EYE, NKE and PLNT. Asset Light Leisure includes MAR, HLT, IHG, H, AC-FR and CHH. Best-in-Class
Service includes BFAM, CTAS, ROL, ECL and SITE. Asset-Heavy Leisure includes MTN, SIX, PLYA, MGM, LVS and BEL. Cruise includes CCL, RCL and NCLH.
1. Adjusted Unlevered After-Tax FCF Conversion calculated as (Adjusted EBITDA less Estimated Unlevered Cash Taxes less Capex) / Adjusted EBITDA. Average conversion shown by sector.
2. OneSpaWorld Adjusted Unlevered After-Tax Free Cash Flow Conversion calculated as (2019 Adjusted EBITDA less Avg. of 2015-20 Capex less Cash Taxes) / Actual 2019 Adjusted EBITDA.
PRIVILEGED, PROPRIETY AND CONFIDENTIAL 19ONESPAWORLD, THE
PREEMINENT GLOBAL
HEALTH AND WELLNESS
SERVICES COMPANY
UNDISPUTED LEADER IN A HIGHLY ATTRACTIVE INDUSTRY
GLOBAL MEGA TRENDS DRIVING ROBUST SECTOR GROWTH
COMPLEX BUSINESS MODEL NOT EASILY REPLICATED
HIGHLY VISIBLE, UNIQUELY PREDICTABLE GROWTH
EAR LY I N N I N G S O F G R OW T H I N A S I A
E X C E P T I O N A L AFTER-TAX FREE CASH FLOW CO N V E R S I O N
PRIVILEGED, PROPRIETY AND CONFIDENTIAL 20Our Focus on People
We believe how we manage our relationships with our employees, with the staff and guests of our cruise and
destination resort partners, with the teams of our suppliers, and with the communities where we operate is
ONESPAWORLD, THE fundamental to the success of our operations. And we believe our leadership team’s accountability to our
employees and our shareholders is critically important to our business. As the pre-eminent global operator of
PREEMINENT GLOBAL health and wellness services onboard cruise ships and destination resorts, our people are essential to the
performance of our operations, the long-term success of our Company and the value we deliver to our
HEALTH AND WELLNESS shareholders. Our thousands of highly trained and resourced staff, guided by our corporate team, are core to that
SERVICES COMPANY performance and success, as they provide extraordinary personal care experiences to millions of our cruise ship
and destination resort partners’ guests.
The unquantifiable adverse impact of the COVID-19 pandemic and our gradual ongoing return to service has
evidenced the critical importance of our people across every aspect of our business. Throughout the COVID-19
pandemic, we have focused first and foremost on the health and safety of our employees. At the onset of the
pandemic, we had over 3,220 of our staff serving aboard 170 cruise ships operating around the world. Upon the
cessation of virtually all cruise ship operations in March 2020, we coordinated immediately with our cruise line
partners to return every member of our shipboard staff to their home in one of 89 countries around the world in
whatever means and at whatever cost required to do so. We are grateful to our cruise line partners for their
caring for our staff as if their own during this time of threat to the safety and security of our people and theirs.
Since our cruise line partners began returning their cruise ships to operation in September 2020, over 2,500 of
our pre-pandemic staff have returned to us, who now serve on or are preparing to serve on 170 operating ships.
We expect to have over 80% of our pre-pandemic staff return to service on 178 operating ships by year end.
Again, evidence of our commitment to the welfare and wellbeing of our people, and its impact on our Company’s
success and the value we deliver to our shareholders.
With the onset of yet another unforeseeable global crisis, we have mobilized our corporate and onboard teams to
support our staff impacted by the hostilities in Ukraine. We have enabled our Ukrainian staff who have returned
to service to elect to remain onboard, or to be repatriated to their homes at our cost through a gateway city of
their choosing. And we have contacted all Ukrainian members of our staff who have not yet returned to service,
offering to promptly transport them to the safety of our shipboard facilities.
As evidenced by these commitments and initiatives in support of our people, we continue to imagine, develop
and undertake strategies, policies and procedures across our Company, including programs to increase employee
diversity, ensure a respectful workplace, and invest in our communities, in our ongoing investment to advance
the interests of all of our stakeholders.
PRIVILEGED, PROPRIETY AND CONFIDENTIAL 21T H A N K YOU
P R I V I L E G E D , P R O P R I E T A R Y A N D C O N F I D E N T I A L 28You can also read
